VW boss backs EU protection plan

Oliver Blume, Volkswagen's chief executive, has backed EU proposals to boost domestic European industry. He said European carmakers need to compete under comparable conditions with Chinese rivals.

Chinese brands spark European crisis

Lower-priced Chinese manufacturers have prompted a crisis in several industries.The EU proposals, formally known as the Industrial Accelerator Act, would limit subsidies and public procurement to products with large proportions of EU materials and manufacturing.

Volkswagen cuts 100,000 jobs

Volkswagen is among the most-affected European companies. Germany's biggest carmaker has launched a plan to cut as many as 100,000 jobs, which Blume called the largest transformation programme in its history.

Blume demands fair competition rules

Blume said Made in Europe rules must reward real value creation in Europe. He argued companies that invest and develop in Europe must see a clear benefit, and Chinese competitors should create jobs and value…

“Companies that invest and develop in Europe must see a clear benefit”

VW cuts model range to boost profits

Volkswagen is cutting the number of models it offers worldwide from 150 to 75 across brands including Audi and Škoda.The move aims to reduce factory complexity and cut the cost of each vehicle it makes.